Ramesh started business on 1st April, …

Ramesh started business on 1st April, 2014 with a capital of Rs 60,000. The following trial balance was drawn up from his books at the end of the year. Name of Accounts Amt (Rs) Name of Accounts Amt (Rs) Drawings Plant fixtures Purchases Carriage inward Wages Return inward Salaries Printing Advertisement Trade charges Rent Debtors Bill receivable Investment Discount Cash at bank Cash in hand 9,000 16,000 2,32,000 4,000 16,000 8,000 20,000 1,600 2,400 1,200 2,800 50,000 10,000 30,000 1,000 32,000 6,000 Capital Sales Creditors Bills payable 80,000 3,20,000 24,000 18,000 4,42,000 4,42,000 The value of stock as at 31st March, 2015 was Rs 52,000. You are required to prepare his trading and profit and loss account for the year ended 31st March, 2015 and a balance sheet as on the date after taking the following facts into account. (i) Interest on capital is to be provided at 6% per annum. (ii) An additional capital of Rs 20,000 was introduced by Vishnu on 1st October, 2014. (iii) Plant and fixtures are to be depreciated by 10% per annum. (iv) Salaries outstanding on 31st March, 2015 amounted to Rs 100. (v) Accrued interest on investment amounted to Rs 1,500. (vi) Rs 1,000 are bad debts and provision for doubtful debts is to be created at 5% on the balance of debtors.

Accounting equation practical problem so Accounts

What is bad depts and how we can show in journal and ledger

Illustration 62. Given below is the Balance Sheet of Krishna & Suresh who are partners in a firm sharing profits in the ratio of 3 : 2: Liabilities Amount Creditors Bank Overdraft Investment Fluctuation Fund Contingency Reserve Capital A/c : Krishna Suresh 30,000 20,000 21,000 2,000 6,000 5,000 50,000 84,000 Assets Plant Patents Furniture Investments (Market value Stock Debtors Cash 14,000) Amount (₹) 30,000 5,000 3,000 15,000 13,000 17,000 1,000 84,000 Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.​

Paid cash to kamlesh rs 15000

Started business with cash RS 90000 stock 30,000 Purchase परचेज फर्नीचर परचेज फर्नीचर फॉर कैश फॉर कैश 15000 में चेक पैड कैरिंग चार्ज रुपीस 1000 इन कैश सोल 1 की 2 का अबोव स्टॉक तो राम ऑन क्रेडिट रिसीव फ्रॉम राम आफ्टर ए डिस्काउंट का 200 रेंट पैड रुपीस 7000 आउट ऑफ़ व्हिच 2000 इस प्रिपेयर्ड

Features of accounting ?

Show the Accounting equation for the following transaction (i)Gopinath started business with cash

Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price

Chapter 3 question number 21

Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.